Panattoni underway with 345,414 sq ft speculative logistics facility in the Midlands

panattoelement on July 9, 2021

Panattoni underway with 345,414 sq ft speculative logistics facility in the Midlands

Panattoni, the largest industrial real estate developer in Europe, today announced its underway speculatively developing a 345,414 sq ft logistics facility at Tamworth.

The new facility, Tamworth 345 is located on the A5 connecting to the heart of the Midlands motorway network, just minutes from junction 10 of the M42. It is part of Panattoni’s commitment to a significant speculative development programme in the UK in response to strong demand from occupiers for immediately available space.

Construction of Tamworth 345 has now commenced and is expected to be completed in Q1 2022. Buckingham Group Contracting have been appointed main contractor on site.

The facility will benefit from 2MVa of power, 15m clear internal height, 32 dock doors and six-level access doors, a 50m deep yard and built to a BREEAM rating of ‘Very Good’. There will also be parking for 50 HGVs and 221 cars.

Simon Jenkins, Development Director at Panattoni, said: “This is a fantastic opportunity for us, as land in the West Midlands for building a logistics facility of this scale is very scarce. Our appetite for speculative development reflects the strength of demand from occupiers for immediately available space”.

The appointed agents on the scheme are JLL and Burbage Realty. For more information please visit this link.

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Panattoni signs up to RBLI VE day challenge

panattoelement on June 25, 2021

Panattoni signs up to RBLI VE day challenge

Panattoni, the world’s largest privately owned industrial developer, has signed up to the Royal British Legion Industries’ (RBLI) VE Day Highways Challenge.

As part of its £180m investment at Panattoni Park Aylesford in Kent, the company has commissioned RBLI’s social enterprise Britain’s Bravest Manufacturing Company (BBMC) to produce the site hoardings needed during the construction phase, as well as all the road and building signage.

BBMC employs more than 100 people – 70% of whom are veterans and people with disabilities. The team produce wooden products, such as pallets and fruit bins, as well as rail and road signs – including the majority placed around Kent.

RBLI’s Highways Challenge, which was launched in line with May’s anniversary of VE Day, aims to generate an extra £1 million of sales by Remembrance Day 2021, with the profits making it provide more employment opportunities to vulnerable veterans in need of work.

Panattoni’s purchasing decision is part of its commitment to source local products and services wherever possible to support the delivery of its recently approved plans to develop 1.9 million ft2 of logistics and distribution space next to the M20.

Tony Watkins, Development Director at Panattoni, said: “This is one of those occasions when we have been able to source high quality, competitively priced products and at the same time use a local business that’s doing important work supporting our veterans with employment, training and accommodation.”

Following an introduction by Tonbridge & Malling Borough Council, Panattoni shared its signage strategy for the 90-acre site with BBMC’s signage team based at the RBLI Village in Aylesford and agreed a programme of works.

Commenting on the deal with RBLI, Councillor Nicolas Heslop, Leader of Tonbridge & Malling Borough Council, added: “Panattoni is living up to its promise to purchase locally. It’s great to see them partner with Britain’s Bravest Manufacturing Company, and at the same time make progress on creating 3,000 new jobs for the borough on a site that’s been vacant for far too long.”

Steve Sherry CMG OBE, Chief Executive of RBLI, said: “We are delighted to partner with Panattoni and look forward to see how Europe’s largest warehousing and logistics developers transforms the site over the next couple of years providing much needed economic regeneration in the area.

“Every sign and hoarding we produce will help transform the day to day lives of the people  that work at Britain’s Bravest Manufacturing Company and the rest of the veterans we support.”

The commitment from Panattoni sees the property developer join National Rail, road maintenance companies such as Amey, as well as residential and commercial developers and local authorities on BBMC’s customer list.

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Panattoni boosts speculative programme with 715,000 sq ft scheme in Yorkshire

panattoelement on June 24, 2021

Panattoni boosts speculative programme with 715,000 sq ft scheme in Yorkshire

Panattoni, the largest industrial real estate developer in Europe, today announced it was working up plans to develop its biggest-ever speculative logistics building in the UK, a 630,000 sq ft facility in Yorkshire.

The 630,000 sq ft facility will be built along with a smaller 85,000 sq ft facility by junction 1 of the M18 at Rotherham on a 40-acre site, which Panattoni has recently acquired from Stretton Denman. Panattoni is aiming to submit a reserved matters planning application in the next few weeks, with a view to beginning construction in the first quarter of 2022.

The 715,000 sq ft development, called Panattoni Park Rotherham, is part of Panattoni’s commitment to a significant speculative development programme in the UK in 2021 in response to strong demand from occupiers for immediately available space. The acquisition of Panattoni Park Rotherham increases the size of Panattoni’s current speculative development programme to around 4.2 million sq ft across eight locations across the North and Midlands, the largest of which are at South Normanton, Derby, Northampton and Crewe.

Panattoni Park Rotherham is located in an established distribution location, immediately adjacent to junction 1 of the M18 and just two miles from junction 32 of the M1. Local occupiers include Great Bear, Clipper Logistics, DX and FedEx.

Letting agents at Panattoni Park Rotherham are M1 Agency, Legat Owen and Knight Frank.

Dan Burn, Development Director for the North West and Yorkshire at Panattoni, said: “Our continued appetite for speculative development reflects the strength of demand from occupiers for immediately available space. In the first quarter of this year half of all take-up in the logistics sector was of speculative developments, driven by demand from e-commerce companies. And in the last 12 months alone, we have let more than 6 million sq ft of space.

“Having let our speculative Wakefield 515 development in May, we are delighted to have acquired this strategic site and look forward to bringing this nationally significant scheme forward over the coming months”.

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Final speculative unit underway at Panattoni Park Northampton, UK

panattoelement on June 8, 2021

Final speculative unit underway at Panattoni Park Northampton, UK

Panattoni, the largest logistics developer in Europe, has revealed it has started construction of the final unit at the 1.7 million sq ft industrial park in Northampton.

Panattoni Park Northampton is already home to three former Panattoni buildings totalling 625,000 sq ft, which were developed speculatively and let to Eddie Stobart Logistics.

In March this year, Winvic Construction began construction with two speculative units being 250,000 sq ft and 430,000 sq ft. These units are available for occupation from August and September 2021 respectively.

Works for the final 380,000 sq ft unit will begin this month, which will be last phase of the project. The unit will comprise of 15m clear internal height, 50m yard depth, 34 dock doors, four level access, 68 HGV trailer spaces and 296 car parking spaces with EV charging.

The three latest buildings on the Park will be built to a BREEAM rating of ‘Excellent’ and have an ‘A’ EPC rating. The section 278 works have completed giving excellent access to the park with immediate access to J16 of the M1.

Once fully occupied, the Park could support over 1000 jobs.

Oliver Bertram, Development Director at Panattoni, said: “Work is forging ahead at Panattoni Park Northampton and we expect the final unit to be available by mid February 2022. We are delighted with progress so far on the site and look forward to completing the final piece of the jigsaw.”

Northampton sits in the so-called ‘logistics golden triangle’, considered to be the UK’s most strategically important location for distribution. Panattoni Park Northampton is only 20 miles from the M6 and A14.

Burbage Realty and Savills are the joint agents on the scheme.

For more details, visit this link.

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Panattoni Recruits Director of Finance and Operations in the UK

panattoelement on May 27, 2021

Panattoni Recruits Director of Finance and Operations in the UK

Panattoni, the largest logistics developer in Europe, is pleased to announce the appointment of Oliver Choppin as its Director of Finance and Operations for the UK, based at its London head office.

Oliver heads up the finance and operations platform for Panattoni in the U.K.  He is responsible for structuring of debt finance, maintaining lending relationships and deploying capital allocations, whilst also managing the operations of the UK development business.

Prior to joining Panattoni, Oliver has extensive experience in property finance, having spent 17 years in an FTSE Retail REIT in various treasury and accounting roles. During his career Oliver has been involved in over £7 billion of financing deals in both public and private debt markets.

Oliver remarked: “I’m delighted to be joining a company with such an accomplished track record.  The appointment is a perfect fit for my experience and I’m excited to be working with such an entrepreneurial team”.

Matthew Byrom, Managing Director of Panattoni, added: “Oliver will bring a wealth of knowledge into the business and will greatly assist the UK team in optimising the financial return of projects and managing our expanding development platform.  We’re very pleased to welcome him onboard”.

Oliver is a member of the Association of Chartered Certified Accountants (ACCA).

In January 2021, Panattoni recruited Head of Capital Markets, Nick Cripps, who is responsible for investor relationships and managing the capitalisation of projects across the UK and Western Europe.

For more details on the Panattoni executive team, visit this link.

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Panattoni to speculatively develop three net zero carbon warehouses at key M3 corridor location

panattoelement on May 24, 2021

Panattoni to speculatively develop three net zero carbon warehouses at key M3 corridor location

Panattoni and Legal & General’s Industrial Property Investment Fund (IPIF) have announced the purchase of land in Basingstoke, Panattoni’s second M3 corridor development programme in just under a month.

The 11-acre site will accommodate three net zero carbon warehouses of 40,209 sq ft, 77,548 sq ft and 96,302 sq ft. The Park is located within an already established industrial area with strong public transport links and amenities.

V Park is only two miles from both the centre of Basingstoke and J6 of the M3 motorway. It is well positioned on a pre-existing motorway access infrastructure route to take advantage of regional axis routes including the M25, A34, M27 and M4. It also has two million people living within 45 minutes by van. Almost 60% of the UK is accessible within a 4.5-hour HGV journey, offering the ability for delivery companies to reach millions of customers the same day.

Oliver Bertram, Development Director at Panattoni, said: “This location has excellent links to the M3 corridor which serves Europe’s largest consumer market. We are proud to start this new development which we believe will be in high demand. The Park is committed to deliver sustainable and future-proofed net zero carbon units allowing our tenants to benefit from the efficiency.

“V Park Basingstoke is being delivered at speed and we are looking forward to completing these ready for occupation by the end of Q2 2022. Demolition of the former Motorola factory is set to start in June this year. Once completed, the facilities could generate over 215 full time jobs.”

Jonathan Holland, Senior Fund Manager of IPIF at LGIM Real Assets, said: “This new acquisition forms part of our investment strategy adding to our London and South East portfolio. With high demand in this strategically important location from eCommerce and last-mile occupiers, we believe this will be an excellent long-term opportunity.”

The buildings will benefit from a high standard specification, harnessing net zero carbon (NZC) technology to prioritise energy efficiency and reduce operating costs. The buildings will be built to a BREEAM rating of ‘Very Good’, with many sustainable credentials and an EPC rating of ‘A’. The buildings are designed to promote energy efficient and low carbon operation, with 100% LED sensored lighting, 15% roof lights and extensive electric vehicle charging points. The units comprise:

– Unit 1 will have a total of 40,209 sq ft, with 12.5m clear internal height, 2 dock doors, 3 level access doors, 30 car parking spaces and 5 HGV trailer spaces.

– Unit 2 will have a total of 77,548 sq ft, with 12.5m clear internal height, 8 dock doors, 2 level access doors and space for 57 cars and 22 HGV trailers.

– Unit 3 will total 96,302 sq ft, with 12.5m clear internal height, 8 dock doors, 3 level access doors and space for 72 cars and 28 HGVs.

The agents for the scheme are CBRE and Cushman & Wakefield.

For more details, visit this link.

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Panattoni agrees blockbuster sale in the UK

panattoelement on May 24, 2021

Panattoni agrees blockbuster sale in the UK

Panattoni is set to sell the second phase at Panattoni Park Northampton.

GLP has agreed terms to acquire the second phase, circa 1 million sq ft, which is currently being developed by Panattoni. GLP purchased the first phase of the site for around £85m in 2019.

The 250,000 sq ft unit 1 and 428,000 unit 2 are currently under construction with completion anticipated in Q3 2021, while construction of the 376,000 sq ft final building is to commence shortly and complete in February 2022.The site is located on the outskirts of Northampton overlooking Junction 16 of the M1 motorway.

Successful exit from Panattoni

Panattoni successful developed and sold the first three units at the Northampton site. The developer let circa 625,000 sq ft to Eddie Stobart, before selling the units to GLP.

Oliver Bertram, Development Director, Panattoni, said: “Following the acquisition of the site in we have seen continued demand from the occupational market which has led to pre-lets at the park. The decision to sell the balance of the park to GLP made sense given the strength of the market.”

For more details click on this link.

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Panattoni acquires key M1 corridor site in the UK

panattoelement on May 18, 2021

Panattoni acquires key M1 corridor site in the UK

Panattoni, the largest developer in Europe, has announced it has secured the purchase of a key 31-acre site at J28 of the M1.

Panattoni Park J28 Central M1 is the latest addition to the developer’s portfolio, having recently announced its commitment to over three million sq ft of speculative builds in the UK this year.

The site will accommodate two warehouses, a 345,000 sq ft and 230,000 sq ft unit, which are set to be completed in Q4, 2022.

Panattoni Park J28 is a significantly recognised leading logistics location within the northern part of the East Midlands. Being less than a mile from J28 of the M1, off the A38, it is just 16 miles and a 19 minute HGV journey to Nottingham, 19 miles to Derby and half an hour from East Midlands Airport. Local occupiers include Amazon, XPO, Co-op, Eurocell and Alloga UK who have recently taken a building from Panattoni at Derby370.

Both buildings at Panattoni Park J28 will be built to a BREEAM rating of ‘Very Good’, an EPC rating of ‘A’ and have 15m clear internal height and 50m yards. Unit 1 will total 343,185 sq ft, while Unit 2 will have 231,068 sq ft of warehouse space. Both will include office and hub spaces.

Work is expected to start at the site in Q1 2022, with over 900 jobs created.

Andy Preston, Development Director at Panattoni said: “We are delighted to announce this acquisition in this established location, which is positioned on the A38 trunk route just a three minutes’ drive to J28 of the M1.

“We are seeing strong demand for Grade A accommodation across the whole of the Midlands currently, and see Panattoni Park J28 as a perfect fit within our expanding portfolio, which currently includes sites at Derby, Nottingham and EMDC,” he added.

FHP have been appointed as agents on the scheme.

For more details, visit this link.

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Panattoni enters the Hungarian market with 2 large projects

panattoelement on May 10, 2021

Panattoni enters the Hungarian market with 2 large projects

Panattoni, Europe’s largest industrial developer, is entering a new market. The company has announced the opening of an office in Hungary, headed by László Kemenes. 

Panattoni’s expansion continues. The developer is already present in the US, Canada and the largest warehouse and industrial markets in Europe as Germany, the UK, Netherlands, Czech Republic, Poland and Spain. And now, in May 2021, the developer has announced the opening of its first office in Hungary and has already two projects secured in the Budapest market.

“Our clients are companies that operate on many European markets. We want to give them the best possible conditions for functioning in each of these markets, providing them with the highest class warehouse and production space,” explains Robert Dobrzycki, the CEO of Panattoni. As he goes on to add, one of the main reasons for this latest expansion is the strength and potential of the Hungarian market: “As with other countries of the region, the global pandemic has had little impact on the Hungarian real estate warehouse and industrial sector. The country is also set to benefit from new trends that were strongly evident last year, including the growth of e-commerce. It could also benefit from the fact that many Asian companies are looking for alternative locations for warehouses and production plants, since many automotive companies are now located in the country. In addition to that, Chinese finance is being used for the construction and modernisation of a high-speed railway between Budapest and Belgrade, which will connect the Balkans with a special transport route to the now Chinese-owned Piraeus seaport in Athens. Thus, Hungary is becoming an increasingly important bridgehead for the Chinese in Europe and a gateway into Western countries. Upon the completion of this project, the country will be in strong position to be able to compete with major logistics hubs across Europe.”

The Hungarian branch of Panattoni is to be headed by László Kemenes. He will be responsible for the development of speculative and big-box projects in Hungary, from the site acquisition and investment preparation, through to the commercialisation of the projects and their transfer to their eventual tenants.

László Kemenes has over 20 years of experience in developing, advising, leasing and selling real estate in the region. Over the last thirteen years (2006–2019), he held the position of country manager at Prologis in Hungary and also managed its Romanian office for several years. He was responsible for all the business and development activities of the company in both countries, including the identification of investment opportunities, new projects and client acquisition, along with overseeing its project and property management activities as well as the finance and legal departments. During his time at the company, he delivered almost 300,000 sqm of space to the Budapest market and was managing 700,000 sqm of assets.

Prior to this, he was employed for four years as a senior real estate advisor at CB Richard Ellis, where he was head of the industrial department and his duties involved leasing, sale and valuation of commercial and industrial real estate. László obtained a BA in business studies from the International Business School in Budapest and has been a member of the RICS (Royal Institution of Chartered Surveyors) since 2011. He is fluent in English and also speaks a little German.

Budapest is continuing to grow rapidly. The city and its surrounding area, where one fifth of the entire Hungarian population lives, are the country’s main logistics and distribution market. This has undergone significant growth, with record high demand together and an insufficient supply of modern space to meet it. At the end of the third quarter of last year, the industrial stock in this region amounted to 2.35 million sqm, with no new warehouse buildings delivered in Q3 2020. Total demand reached 176,900 sqm – a fall of 30%, but higher than in the same period of the previous year. The total demand over the January-September period also hit a record high in comparison to previous years, reaching 460,000 sqm. At the end of October, approximately 183,000 sqm was under construction.

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Panattoni announced largest logistics developer in the UK and Europe – 5th year in a row

panattoelement on May 4, 2021

Panattoni announced largest logistics developer in the UK and Europe – 5th year in a row

Panattoni, the largest developer in Europe, has, for the fifth year in a row, taken first place in PropertyEU magazine’s Top Logistics Developers ranking.

In 2018–2020, the company delivered 69 million sq ft of warehouse and industrial space to the market. Panattoni owes its strong position to its expert anticipation of market trends and its rapid response to the economic turmoil brought about by the pandemic.

Panattoni has topped PropertyEU’s ranking to secure the title of Top Logistics Developer. The survey ranks the largest European developers according to the amount of warehouse space they build. This year’s list covers the period from 2018 to 2020. During this time, Panattoni delivered to the European markets as much as 69 million sq ft.

Robert Dobrzycki, the CEO of Panattoni, said: “Earning the title of the largest developer in Europe for the fifth year in a row shows that our company has clearly been strengthening its position on the European market. It confirms that the development directions we have adopted were obviously the right ones.

“A major part in this has been played by the growth of e-commerce, which the Covid-19 pandemic has accelerated even further. Automated centres built for this sector already account for 35% of all our projects. The number of ‘last mile’ city parks we have developed in Germany, the UK and Poland is also growing,” he said.

“Around 25% of all our projects are highly technologically advanced production facilities. Panattoni specialises in the construction of this type of facility, tailored for a specific client. The disruption to supply chains caused by the pandemic has been leading many companies to consider relocating their manufacturing businesses or parts of them to Europe to be closer to their customers. The Central European markets in which we operate can only benefit from this.”

It is not only through an accurate analysis of the market trends that Panattoni’s success has been achieved. The company’s growth has also been fostered by its decision to implement a sustainable development strategy, which has put it at the cutting edge of the environmental changes in the sector.

As standard, the company provides warehouse and production facilities with environmental solutions that help to reduce CO2 emissions as well as energy and water consumption, while improving the well-being of the buildings’ eventual employees. The effectiveness of these measures is also confirmed by the company’s policy of obtaining BREEAM certification for each project. In an era when combating climate change is of paramount importance, such an approach is entirely in tune with the expectations of clients.

In its more than 15 years of activity on the European market, Panattoni has completed projects with a combined area of ​​more than 129 million sq ft. These include both BTS production facilities and more than 2,152,782 sq ft of specialised centres designed for major e-commerce players. The developer also provides a variety of space in its own parks in logistically attractive locations, including in cities. Panattoni is currently active in, among other markets, the UK, Poland, Germany, the Czech Republic, Slovakia, Spain and the Netherlands.

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